Will Ripple (XRP) Price Bull Run takes it to $0.50?

Price of XRP soon to taste the $0.50 mark as the bull run to continue.

XRP (XRP) is now available to Coinbase users who are New York residents. This acted as a catalyst for the bull run.

Ripple’s XRP which was the underperforming cryptocurrency from last few months as it was in the trap of bear market. XRP was trading at around $0.30 USD from last several days. But after a long time, it has joined the bull run along with Bitcoin.

There was some news in favour of Ripple XRP which acted as a catalyst for the sudden price surge. The first news was that Börse Stuttgart which is Germany’s 2nd largest stock market exchange lists XRP and LTC based ETNs.

And the second news came just after the previous one that XRP is now available to Coinbase users who are New York residents. Coinbase tweets about this announcement on the official Twitter handle.

Ripple XRP/USD Price Analysis

The XRP/USD price is up by 7.9% in the last 24 hours and by 40.8% within the last 7 days. As we look at the XRP price chart we find that almost all the technical indicators are indicating towards a buy signal.

Ripple XRP/USD Price Chart by TradingView

Hull Moving Average (9) for XRP on daily basis is 0.39267 which is indicating a buy signal.

The daily Ichimoku Cloud Base Line (9, 26, 52, 26) is 0.36408 which is between the sell and buy pressure zone.

However, the Relative Strength Index (14) is 78.73173 which is in the sell pressure zone.

MACD Level (12, 26) is 0.01430 which is favouring to buy zone.

Conclusion

The next resistance level for XRP/USD is $0.45, $0.47 and $0.50 while the support levels are $0.42, $0.41 and $0.39 USD.

This article should not be considered as investment advice. Please conduct your own research before investing in any cryptocurrency.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.